联合包裹服务 2025年季度报告

Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months(or for such shorter period that the registrant was required to file such reports), and (2)has been subject to such filing requirements for the past 90days.Yes☑No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 ofthis chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).Yes☑No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. Seethe definitions of "large accelerated filer", "accelerated filer", "smaller reporting company" and "emerging growth company" in Rule 12b-2 of the Exchange Act. TABLE OF CONTENTSPART I—FINANCIAL INFORMATIONCautionary Statement About Forward-Looking StatementsItem1.Financial StatementsConsolidated Balance SheetsStatements of Consolidated IncomeStatements of Consolidated Comprehensive Income (Loss)Statements of Consolidated Cash FlowsNotes to Unaudited, Consolidated Financial StatementsNote 1—Basis of Presentation and Accounting PoliciesNote 2—Recent Accounting PronouncementsNote 3—Revenue RecognitionNote 4—Stock-Based CompensationNote 5—Marketable Securities and Non-Current InvestmentsNote 6—Property, Plant and EquipmentNote 7—Employee Benefit PlansNote 8—Goodwill and Intangible AssetsNote 9—Debt and Financing ArrangementsNote 10—LeasesNote 11—Legal Proceedings and ContingenciesNote 12—Shareowners'EquityNote 13—Segment InformationNote 14—Earnings Per ShareNote 15—Derivative Instruments and Risk ManagementNote 16—Income TaxesNote 17—TransformationStrategyCostsNote 18—AcquisitionsNote 19—Subsequent EventsItem 2.Management's Discussion and Analysis of Financial Condition and Results of OperationsOverviewSupplemental Information - Items Affecting ComparabilityResults of Operations - Segment ReviewU.S. Domestic Package OperationsInternational Package OperationsSupply Chain Solutions OperationsConsolidated Operating ExpensesOther Income (Expense)Income Tax ExpenseLiquidity and Capital ResourcesCash Flows From Operating ActivitiesCash Flows From Investing ActivitiesCash Flows From Financing ActivitiesSources of CreditContractual CommitmentsLegal Proceedings and ContingenciesCollective Bargaining AgreementsRecent Accounting PronouncementsItem 3.Quantitative and Qualitative Disclosures About Market RiskItem 4.Controls and ProceduresPART II—OTHER INFORMATIONItem 1.Legal ProceedingsItem1A.Risk FactorsItem 2.Unregistered Sales of Equity Securities and Use of ProceedsItem 5.Other InformationItem 6.Exhibits PART I. FINANCIAL INFORMATION Cautionary Statement About Forward-Looking Statements This report, our Annual Report on Form 10-K for the year ended December31, 2024 and our other filings with the Securities andExchange Commission contain and in the future may contain "forward-looking statements." Statements other than those of current orhistorical fact, and all statements accompanied by terms such as "will," "believe," "project," "expect," "estimate," "assume," "intend," From time to time, we also include written or oral forward-looking statements in other publicly disclosed materials. Suchstatements may relate to our intent, belief, forecasts of, or current expectations about our strategic direction, prospects, future results,or future events; they do not relate strictly to historical or current facts. Management believes that these forward-looking statements Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially fromour historical experience and our present expectations or anticipated results. These risks and uncertainties include, but are not limitedto: changes in general economic conditions in the U.S. or internationally, including as a result of changes in the global trade policy andnew or increased tariffs; significant competition on a local, regional, national and international basis; changes in our relationships withour significant customers; our ability to attract and retain qualified employees; strikes, work stoppages or slowdowns by ouremployees; increased or more complex physical or operational security requirements; a significant cybersecurity incident, or increaseddata protection regulations; our ability to maintain our brand image and corporate reputation; impacts from global climate change;interruptions in or impacts on our business from natural or man-made events or disasters including terrorist attacks, epidemics orpandemics; exposure to changing economic, political, regulatory and social developments in international and emerging markets; ourability to realize the anticipated benefits from a